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Guitar Center Not Buying Woodwind & Brasswind After All

Cataloger/retailer Guitar Center announced that its Nov. 22 agreement to purchase substantially all the assets of Dennis Bamber, which operates as multititle mailer The Woodwind & Brasswind, has been terminated upon approval by the Federal Bankruptcy Court of an alternative stalking-horse bidder for the business. The court set Jan. 24, 2007 as the date for the auction of substantially all the assets of Woodwind & Brasswind, which sells musical instruments to consumers, professional musicians, and schools. Woodwind & Brasswind had filed for bankruptcy protection on Nov. 21.

In a stalking-horse action, a bankrupt company selects a “stalking horse” from a pool of bidders to make the initial bid. Once the stalking-horse makes its bid, other potential buyers can submit competing bids. The process was created so that bidders can’t lowball the purchase price.

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Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?